Ross Stores, Inc. (NASDAQ:ROST) Shares Sold by AlphaQuest LLC

AlphaQuest LLC reduced its position in shares of Ross Stores, Inc. (NASDAQ:ROST) by 70.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,319 shares of the apparel retailer’s stock after selling 14,797 shares during the period. AlphaQuest LLC’s holdings in Ross Stores were worth $956,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Wellington Management Group LLP lifted its holdings in shares of Ross Stores by 64.0% during the 3rd quarter. Wellington Management Group LLP now owns 3,862,684 shares of the apparel retailer’s stock worth $581,373,000 after acquiring an additional 1,507,922 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Ross Stores during the 4th quarter worth about $173,329,000. Nordea Investment Management AB lifted its holdings in shares of Ross Stores by 137.7% during the 4th quarter. Nordea Investment Management AB now owns 1,976,140 shares of the apparel retailer’s stock worth $299,583,000 after acquiring an additional 1,144,774 shares during the period. Public Sector Pension Investment Board lifted its holdings in shares of Ross Stores by 4,787.8% during the 3rd quarter. Public Sector Pension Investment Board now owns 629,744 shares of the apparel retailer’s stock worth $94,783,000 after acquiring an additional 616,860 shares during the period. Finally, Sarasin & Partners LLP purchased a new position in shares of Ross Stores during the 4th quarter worth about $86,732,000. 86.86% of the stock is owned by institutional investors and hedge funds.

Ross Stores Stock Down 2.8 %

Shares of NASDAQ:ROST opened at $132.12 on Tuesday. The company has a quick ratio of 0.98, a current ratio of 1.57 and a debt-to-equity ratio of 0.29. Ross Stores, Inc. has a 52-week low of $127.53 and a 52-week high of $163.60. The company has a 50 day moving average of $144.98 and a two-hundred day moving average of $147.30. The company has a market capitalization of $43.59 billion, a price-to-earnings ratio of 20.81, a price-to-earnings-growth ratio of 2.13 and a beta of 1.15.

Ross Stores (NASDAQ:ROST) last issued its quarterly earnings data on Tuesday, March 4th. The apparel retailer reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.65 by $0.14. Ross Stores had a net margin of 9.95% and a return on equity of 41.83%. The company had revenue of $5.91 billion during the quarter, compared to the consensus estimate of $5.95 billion. As a group, analysts forecast that Ross Stores, Inc. will post 6.17 earnings per share for the current fiscal year.

Ross Stores Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be given a dividend of $0.405 per share. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.23%. This is an increase from Ross Stores’s previous quarterly dividend of $0.37. Ross Stores’s dividend payout ratio (DPR) is presently 25.63%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. StockNews.com lowered shares of Ross Stores from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Loop Capital cut their price objective on shares of Ross Stores from $190.00 to $175.00 and set a “buy” rating on the stock in a report on Wednesday, March 5th. TD Cowen cut their price objective on shares of Ross Stores from $185.00 to $177.00 and set a “buy” rating on the stock in a report on Tuesday, November 19th. Wells Fargo & Company restated a “negative” rating on shares of Ross Stores in a report on Wednesday, March 5th. Finally, Guggenheim restated a “buy” rating and issued a $180.00 price target on shares of Ross Stores in a report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $161.40.

Ross Stores Profile

Ross Stores, Inc, together with its subsidiaries, operates off-price retail apparel and home fashion stores under the Ross Dress for Less and dd’s DISCOUNTS brand names in the United States. Its stores primarily offer apparel, accessories, footwear, and home fashions. The company’s Ross Dress for Less stores sell its products at department and specialty stores to middle income households; and dd’s DISCOUNTS stores sell its products at department and discount stores for households with moderate income.